Model Healthwhich offers a platform to build digital health tools, announced it raised $3.3 million in Series A funding.
The round was led by the family office of Dr. William H. Joyce, with participation from existing investors Cofounders Capital, Launch Place and Triangle Tweener Fund. The startup last announced a A fundraising of 1.5 million dollars in February 2021.
WHAT HE DOES
Pattern provides a no-code platform to help clinicians and researchers build digital health programs such as apps, clinical decision support tools, and surveys.
The startup also has a distribution service that can help with licensing and an exchange where users can find other programs created using Pattern’s platform. For example, a tool on the exchange is a home cardiac rehabilitation program designed by a specialist from Duke University.
“We talk a lot about being a no-code platform, and that’s really how we can set up and run care programs, clinical decision support tools, and surveys very quickly. We provide service through a program management team to help set up those plans, test them, and get them into the hands of patients through clinicians and researchers,” said CEO and co-founder Ed Barber. MobiHealthNews.
“And then, of course, we have the researcher and clinician console to help visualize data, understand the success of programs from a statistical perspective, but also manage patient-level workflows and data. .”
Barber said academic medical centers are one of Pattern’s primary customer groups. The company plans to use the Series A capital to improve the platform to appeal to larger organizations, including adding new EHR integrations and spending on marketing.
“One of the next steps for us is to continue to make it easier and more cost effective to create a diverse set of programs, but also to deliver that same value at the enterprise level,” he said. declared. “How do we work with larger research groups, with larger academic medical centers, with larger health systems to leverage these tools at scale?”
Funding for digital health has plummeted so far this year, following the investment boom seen in the wake of the COVID-19 pandemic in 2021, according to a Rock Health report. However, a recent American Medical Association survey found that more physicians are embracing digital health tools and seeing them as a benefit to patient care.
Overall, 93% of physicians surveyed felt there was a definite benefit or benefit to leveraging digital health tools in 2022, up from 85% in 2016. And the average number of digital tools used by doctors increased to 3.8 in 2022 from 2.2. in 2016.
Another company focused on increasing the number of digital health tools on the market is Redesign Health, which helps create, launch and find funding for startups. This recently announced $65 million Series C round led by General Catalyst.
Synthace, which raised $35 million in Series C funding last year, offers a no-code tool that helps scientists design experiments. They can run these experiments in their labs and then collect and analyze data within Synthace’s platform.